NewEdge Wealth LLC Grows Position in Exelixis, Inc. $EXEL

NewEdge Wealth LLC grew its position in Exelixis, Inc. (NASDAQ:EXEL) by 49.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 42,331 shares of the biotechnology company’s stock after acquiring an additional 14,056 shares during the quarter. NewEdge Wealth LLC’s holdings in Exelixis were worth $1,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Exelixis by 81.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,181 shares of the biotechnology company’s stock valued at $1,592,000 after buying an additional 19,407 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Exelixis by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,466,779 shares of the biotechnology company’s stock worth $54,153,000 after acquiring an additional 68,133 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Exelixis by 83.4% in the 1st quarter. Focus Partners Wealth now owns 38,458 shares of the biotechnology company’s stock valued at $1,420,000 after acquiring an additional 17,483 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Exelixis by 134.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,647 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 944 shares during the period. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Exelixis by 23.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,362 shares of the biotechnology company’s stock valued at $633,000 after acquiring an additional 2,764 shares in the last quarter. Institutional investors and hedge funds own 85.27% of the company’s stock.

Exelixis Price Performance

EXEL opened at $55.37 on Friday. Exelixis, Inc. has a 12-month low of $33.76 and a 12-month high of $57.57. The stock has a market capitalization of $13.92 billion, a PE ratio of 18.40, a P/E/G ratio of 1.60 and a beta of 0.42. The firm’s fifty day moving average price is $53.16 and its 200 day moving average price is $47.19.

Exelixis (NASDAQ:EXEL) last announced its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.12. The company had revenue of $610.81 million during the quarter, compared to analyst estimates of $607.51 million. Exelixis had a net margin of 35.08% and a return on equity of 39.89%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. On average, equities research analysts forecast that Exelixis, Inc. will post 3.15 earnings per share for the current fiscal year.

Insider Activity at Exelixis

In other news, EVP Dana Aftab sold 43,451 shares of Exelixis stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $50.35, for a total value of $2,187,757.85. Following the completion of the transaction, the executive vice president owned 594,741 shares in the company, valued at approximately $29,945,209.35. This trade represents a 6.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher J. Senner sold 34,901 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $50.00, for a total value of $1,745,050.00. Following the completion of the sale, the chief financial officer owned 952,317 shares of the company’s stock, valued at $47,615,850. This trade represents a 3.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 219,170 shares of company stock worth $10,620,641 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on EXEL shares. Barclays increased their price target on Exelixis from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Tuesday, July 14th. Stifel Nicolaus increased their target price on Exelixis from $44.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings cut Exelixis from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday. Citizens Jmp lifted their price objective on shares of Exelixis from $50.00 to $55.00 and gave the company a “market outperform” rating in a research note on Wednesday, June 24th. Finally, TD Cowen lifted their price target on shares of Exelixis from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $49.00.

About Exelixis

Exelixis, Inc is a biotechnology company specializing in the discovery, development and commercialization of small molecule therapies primarily for the treatment of cancer. Building on a platform that leverages model organism genetics and high-throughput screening, the company focuses its research on kinase inhibitors that modulate critical signaling pathways involved in tumor growth and metastasis. Exelixis’s translational research approach aims to advance novel compounds from early-stage discovery through clinical development and regulatory approval.

The company’s most recognized products include CABOMETYX® (cabozantinib), approved for the treatment of advanced renal cell carcinoma and hepatocellular carcinoma, and COMETRIQ® (cabozantinib) for metastatic medullary thyroid cancer.